July 6, 2017
Balcıoğlu Selçuk Akman Keki Attorney Partnership (“BASEAK”) is pleased to have advised DP Eurasia N.V., the exclusive master franchisee of the Domino's Pizza brand for Turkey, Russia, Georgia and Azerbaijan, on its successful initial public offering (IPO) and admission to listing on the premium segment of the UK Listing Authority (UKLA) and to trading on the London Stock Exchange. The offering raised gross proceeds of approximately £148 million. DP Eurasia is the first Turkish business to access the premium segment of the UK market – the "super-equivalent", and highest, standard of listing in the UK. In the transaction, BASEAK acted as the Turkish counsel to the company, whereas Dentons acted as English, United States and Russian counsel.
DP Eurasia N.V. is the fifth largest franchisee of Domino's Pizza Inc. (NYSE:DPZ) with 571 stores across its four geographies. The company was admitted to the London Stock Exchange today with a market capitalisation of £291 million (based on the offer price). The IPO comprises existing shares sold by shareholders (TPEF II, a fund advised by Turk Ventures Advisory Limited, and Aslan Saranga, DP Eurasia N.V.'s CEO) and an issue of new shares by the company to raise approximately £20 million. The company intends to use proceeds from the offering for general corporate and working capital purposes and to expand its business in Russia.
DP Eurasia N.V. is incorporated in the Netherlands and, as a result, the listing and offering required approvals from the Netherlands Authority for the Financial Markets (the AFM) as well as the UKLA. The offering also included a placement to institutional investors in the United States.
BASEAK Corporate partners Mufit Arapoglu and Galip M. Selcuk together with senior associate Duygu Çetinkaya Eldem led on Turkish law matters and Dentons partner Nik Colbridge and senior associate James Davison led the matter from London. Dentons London Corporate partner Cameron Half led on US securities laws matters, with assistance from Atlanta/New York Corporate partner Steve Berson. Dentons Corporate partner Mikhail Dikopolski in Moscow led on Russian law matters and Tax partner John Harrington in Washington led on US tax matters.
About Balcıoğlu Selçuk Akman Keki
Balcıoğlu Selçuk Akman Keki Attorney Partnership is an Istanbul-based full service law firm with a team of 75-plus lawyers and economists. Our practice focuses on a wide range of areas including real estate, corporate, mergers and acquisitions, banking, project finance, capital markets, competition and anti-trust, employment, litigation and arbitration, telecommunication, regulatory and public law and intellectual property. We represent and advise Turkish and multinational clients, including Fortune 500 companies, in the banking and finance, private equity, real estate, manufacturing, hospitality and leisure, retail, automotive, energy, information technology, life sciences, luxury fashion and beauty, and media sectors.